CORE COMPONENTS OF BUSINESS

Topic 

CORE COMPONENTS OF BUSINESS

Questions 

Question 1)

Which one of the core components of a business would you choose to be your area of expertise, and why?

Question 2)

First, describe the difference between quantitative and qualitative research.  Please give an example of qualitative research and an example of quantitative research.

Question 3)

This unit lesson focused on the various environments in which businesses operate (social, technological, economic, legal, global, and market). Based on what you have learned about the various business environments, which environment, in your opinion, has the greatest impact on business operations? Explain. Minimum 200 words.

Question 4)

In Unit 2 we cover the concept of culture. We will learn about cultural differences, the elements of culture, and the importance of culture in society.  Answer both of the following questions.

 

  1. There are three types of culture: material, cognitive, and normative. Which type do you think has the most impact on self-development? Why? Feel free to share personal examples in your discussion.

 

  1. Describe a cultural experience that you encountered that was different from your own daily cultural experience. How were some of the elements of culture (symbols, language, or values/beliefs/norms) different from your own daily culture? What surprised or fascinated you about the culture? Did you experience culture shock? How did you try to adapt to the new culture?

Answer Preview

The basic components of the business are finance and accounting, human resource management, strategic management, sales, operations management, and marketing. They are equally important for the seamless running of a business. Big businesses have well-established and clearly demarcated departments that run and manage the functions of each component.

Word Count: 1200